The monomer, 2,2,4,4-tetramethylcyclobutane-1,3-diol, (TMCD) is an important intermediate for producing a variety of polymeric materials which possess advantageous properties. For example, polyesters derived from dicarboxylic acids and 2,2,4,4-tetramethylcyclobutane-1,3-diol can possess higher glass transition temperatures, impact strength, weatherability, and hydrolytic stability in comparison to many other polyesters prepared from other commonly-used diols. TMCD (II) can be prepared by the catalytic hydrogenation of 2,2,4,4-tetramethylcyclobutane-1,3-dione (I), as illustrated in following schematic: